SunSwap exchange on the TRON network reduces fees by 99%

It will cost less than 2 TRX to complete a transaction

18.09.2024 - 09:08

2408

3 min

Last updated on Nov 17, 2024

What’s new? SunSwap, a leading decentralized crypto exchange (DEX) on the TRON blockchain, has reduced transaction fees by 99%. Completing transactions in the protocols of the second and third versions now costs less than 2 TRON (TRX) native tokens, or about $0,3 at the current exchange rate.

Source: X.com

What else is known? The innovation was announced by TRON founder and head of centralized crypto exchanges (CEX) HTX and Poloniex Justin Sun. According to him, other fees on SunSwap, aside from transaction completion fees, have been reduced to less than $0,1. “Time to come back!” the businessman urged.

Token Terminal analysts pointed to increased activity on the TRON network. Over the past month, fees totaled $220 million, while the number of transactions and active users totaled 225 million and 14,1 million, respectively.

The most popular applications on the network are those of USDT Tether, an issuer of the USDT stablecoin, and SunPump, a launchpad for SunPump meme tokens. For example, the USDT app on TRON is worth $61,8 billion with 8,3 million senders of the asset per month. On SunPump, the daily number of active addresses is 10 300, with fee income reaching $416 000 over the same period.

Source: X.com

TRX is ranked 11th in the overall cryptocurrency ranking by market capitalization with over $13 billion and is trading at $0,1502, unchanged in price overnight. The weekly drop was 1,4%, but the asset has added 40% since the beginning of the year.

According to data from the aggregator CoinGecko, SunSwap V2 has a daily trading volume of $26,15 million. There are 72 coins and 612 trading pairs available on the platform. The most popular asset is SUNDOG. On SunSwap V3, the trading volume is 31,14 million and the platform offers 15 coins and 20 pairs. The most popular asset is USDT.

Earlier this month, Justin Sun announced that SunPump’s proceeds will be used to buy back and burn SUN coins, which will help maintain the asset’s exchange rate.

Author: